Regions
Australia's V2Food raises $55m Series B
Australian alternative protein producer V2Food has raised a A$77 million ($55 million) Series B round featuring Sequoia Capital China and Temasek Holdings.
Ping An gives third-party investors exposure to PE portfolio
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.
Asia fundraising: Be prepared
LPs are becoming more flexible in their due diligence, in certain cases backing managers where there has been no face-to-face interaction, but COVID-19 has underlined the importance of pre-fundraise engagement
China's Source Code raises $567m for latest renminbi fund
Source Code Capital, a Chinese VC firm founded by Yi Cao, formerly a partner at Sequoia Capital China, has closed its fourth renminbi-denominated fund at RMB3.8 billion ($567 million).
Japan's Drone Fund secures anchor LPs for third vintage
Japan’s Drone Fund has reached a first close of undisclosed size on its third VC fund, with SMBC Nikko Securities and NTT Docomo coming in as anchor LPs. The target is JPY10 billion ($95 million).
Japan's aStart launches second dedicated space tech fund
Japanese VC investor aStart has raised JPY3.8 billion ($36 million) for its second fund dedicated to space tech. The vehicle remains open.
L Catterton exits RM Williams to Australian billionaire
L Catterton Asia has sold Australian bootmaker R.M. Williams to Tattarang, a private investment group established by Andrew Forrest, majority shareholder and former CEO of Fortescue Metals Group.
Cenova leads $37m round for China's Nanyan Insurtech
Chinese insurance platform Nanyan Insurtech has raised a RMB250 million ($37 million) Series C round led by Cenova Ventures. SIG China and BlueRun Ventures both re-upped.
China's Miniso sees modest trading debut after $608m US IPO
Miniso, a Chinese low-cost retailer backed by Hillhouse Capital and Tencent Holdings, posted a small gain on its US trading debut following a $608 million IPO.
Tech, flexibility indispensable in ASEAN logistics
Logistics operators navigating Southeast Asia’s challenging fragmentation against the backdrop of COVID-19 must embrace digital upgrades and flexibility in terms of service offering.
Singapore auto marketplace Carro raises $110m
Singapore used car marketplace Carro has raised S$150 million ($110 million) in debt and equity, including an unspecified equity contribution from Japan’s MS&AD Insurance and Mitsubishi Corp.
Hillhouse targets $12b for separate buyout, growth funds
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
Profile: Jihoon Rim
Jihoon Rim has been a venture capitalist, CEO of one of Korea’s largest technology companies, and a US business school professor – in the space of a decade. He explains the appeal of new challenges
China EV maker Enovate raises $742m
Enovate, a Chinese new energy vehicle manufacturer, has raised RMB5 billion ($742 million) in a funding round led by local government industry guidance funds and state-owned banks.
Vision Knight leads Series B for China education app
Shaonian Dedao, a Chinese education app for teenagers led by former CCTV host Quanlin Zhang, has raised RMB200 million ($29 million) in a Series B funding round led by Vision Knight Capital.
Swedish GP buys Singapore biotech supplier, SBI exits
Swedish private equity firm Summa Equity has acquired a controlling stake in Singapore-based biotech developer Sengenics for an undisclosed sum, setting up an exit for Japan’s SBI Holdings.
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
Japanese LPs stress importance of consistent deployment - AVCJ Forum
Institutional investors must maintain a reasonable pace of deployment in alternatives despite the coronavirus pandemic fostering economic uncertainty and hindering efforts to perform due diligence on managers, the AVCJ Japan Virtual Forum heard.
3H Health leads $67m Series B for China's EdiGene
China’s 3H Health Investment has led a RMB450 million ($67 million) Series B round for local genetics-based drug discovery and therapeutics developer EdiGene.
China cybersecurity provider BambooCloud raises $44m
Shenzhen-based cybersecurity company BambooCloud has raised a RMB300 million ($44 million) Series C round featuring Sequoia Capital China.
Japan space debris start-up raises $191m Series E
Astroscale, a Japanese space tech start-up dedicated to cleaning up orbital debris, has closed its Series E round at $191 million with support from local investors aStart and Sparx Group.
Delta, Daiwa back Myanmar plastic recycler
Delta Capital Myanmar, formerly PMM Partners, and Daiwa Securities Group have invested $12.6 million in Myanmar recycling business Commercial Plastics Holding (CPC).
Deal focus: VR gaming comes of age
Japanese videogame publishing company Thirdverse believes the time is right to bring virtual reality entertainment to the masses. VCs with expertise in the sector are beginning to agree
Polaris wins PSERS support for $1.4b Japan fund
Polaris Capital Group has won support from Pennsylvania Public School Employees’ Retirement System (PSERS) for a Japan buyout fund of up to JPY150 billion ($1.4 billion), twice the size of its 2016 vintage predecessor.